Zacks: Analysts Expect Magna International Inc. (MGA) Will Post Earnings of $1.56 Per Share

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Analysts predict that Magna International Inc. (NYSE:MGA) (TSE:MG) will post earnings per share of $1.56 for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Magna International’s earnings, with the highest EPS estimate coming in at $1.64 and the lowest estimate coming in at $1.50. Magna International reported earnings of $1.36 per share during the same quarter last year, which would suggest a positive year over year growth rate of 14.7%. The firm is scheduled to issue its next earnings results on Thursday, November 8th.

On average, analysts expect that Magna International will report full-year earnings of $6.84 per share for the current fiscal year, with EPS estimates ranging from $6.70 to $7.01. For the next fiscal year, analysts anticipate that the firm will post earnings of $7.31 per share, with EPS estimates ranging from $5.60 to $8.10. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Magna International.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Wednesday, August 8th. The company reported $1.67 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.74 by ($0.07). Magna International had a return on equity of 19.72% and a net margin of 5.72%. The firm had revenue of $10.28 billion for the quarter, compared to analyst estimates of $10.45 billion. During the same period in the previous year, the business posted $1.48 EPS. Magna International’s revenue for the quarter was up 12.5% compared to the same quarter last year.

Several analysts have recently weighed in on the company. ValuEngine lowered Magna International from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Royal Bank of Canada decreased their price objective on Magna International from $76.00 to $74.00 and set an “outperform” rating on the stock in a report on Thursday, August 9th. Zacks Investment Research raised Magna International from a “sell” rating to a “hold” rating in a report on Wednesday, September 5th. Morgan Stanley decreased their price objective on Magna International from $53.00 to $48.00 and set a “sell” rating on the stock in a report on Monday, August 13th. Finally, TD Securities decreased their price objective on Magna International from $69.00 to $63.00 and set a “hold” rating on the stock in a report on Thursday, August 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $65.88.

Several institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN raised its position in Magna International by 11.6% in the 1st quarter. Wells Fargo & Company MN now owns 482,953 shares of the company’s stock valued at $27,215,000 after purchasing an additional 50,290 shares during the last quarter. M&T Bank Corp raised its position in Magna International by 18.0% in the 1st quarter. M&T Bank Corp now owns 9,585 shares of the company’s stock valued at $541,000 after purchasing an additional 1,464 shares during the last quarter. Synovus Financial Corp bought a new position in Magna International in the 1st quarter valued at $128,000. ETRADE Capital Management LLC raised its position in Magna International by 18.7% in the 1st quarter. ETRADE Capital Management LLC now owns 10,087 shares of the company’s stock valued at $568,000 after purchasing an additional 1,589 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its position in Magna International by 73.7% in the 1st quarter. Neuberger Berman Group LLC now owns 483,838 shares of the company’s stock valued at $27,263,000 after purchasing an additional 205,270 shares during the last quarter. Institutional investors and hedge funds own 59.19% of the company’s stock.

Shares of NYSE:MGA opened at $56.53 on Tuesday. Magna International has a 1-year low of $50.78 and a 1-year high of $67.47. The company has a market cap of $18.62 billion, a PE ratio of 8.45, a PEG ratio of 0.94 and a beta of 1.37. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.27.

The business also recently announced a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 31st were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.34%. The ex-dividend date was Thursday, August 30th. This is an increase from Magna International’s previous quarterly dividend of $0.26. Magna International’s dividend payout ratio (DPR) is 22.15%.

Magna International Company Profile

Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia, and South America. The company offers body systems, including exterior sheetmetal and closure systems, body structure systems, and energy management solutions; chassis systems, such as frames and chassis subframes, suspension links and arms, and chassis modules; and engineering services comprising support, program management, virtual tool, prototype build and validation, testing, and research and development services.

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Earnings History and Estimates for Magna International (NYSE:MGA)

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